ONA dedicates gold mine in guinea

Morocco's largest private holding "ONA," through its mining affiliate, dedicated a gold mine compound in Guinea, the first of its operation abroad.

The project, carried out by ONA's Semafo, required a total investment of US$ 24 million and created 80 local direct and 150 indirect jobs.

The Kniero gold mine, located in the Guinean eastern region of Kankan, has an annual production capacity of 2 tons of gold. It has a minimum longevity of 5 years and important extension potentials.

ONA, which is planning to launch in the second half of 2002 another gold mine in Niger and in the beginning of 2004 a gold mine in Burkina Faso. Following these projects, ONA will be producing by 2004 7 to 8 tons of gold in west Africa. After dedicating the Guinean gold mine compound together with a delegation official delegation led by minister of mining, energy and mining, ONA's chief executive officer, Mourad Cherif, reviewed on Tuesday with Guinean president, Lansana Conte, positive effects of the project on the west African country.

ONA and the Guinean government also signed an investment convention.

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